Life and Times of Former APEC Youth Representative
Alex Esguerra 1996-98

Friday, December 4, 2015

APEC then and now 1997-2015 Leaders Declaration

From 1997-2015 in both APEC Leaders' Declarations I remiss on posturing growth toward the APEC member
economies.

2015 Manila declaration also embodies recognition on the need for complete participation from all segments of society
which in 1997 focuses on women, youth and small business. Came 2015's declaration that included people with disabilities, indigenous peoples, low-income groups, and micro, small and medium enterprises (MSMEs), to achieving inclusive growth. We underscore the importance of empowering them with the ability to contribute to and benefit from future growth.

As we look forward APEC 2016 in Peru, a lot still needs to be done especially in these marginalized sectors as the APEC economies continuous to struggle in these sectors needs in-spite of economic growth.

1. We, APEC's Economic Leaders, met today in Vancouver, Canada, to reaffirm our commitment to work together to meet the challenge of sustaining regional prosperity and stability. Certain of the dynamism and resilience of the region, we underline our resolve to achieve sustainable growth and equitable development and to unlock the full potential of the people who live here. We agree that the prospects for economic growth in the region are strong, and that Asia-Pacific will continue to play a leading role in the global economy. The goals we have set, including the achievement of free and open trade and investment in the region by the dates set out in the Bogor Declaration, are ambitious and unequivocal.

2. We take note of the rapid expansion of APEC's activities in recent years, and the increasing leadership role it plays in global economic affairs. Flowing from commitments embodied in the Osaka Action Agenda and the Manila Action Plan for APEC, we welcome the designation of 1997 as APEC's Year of Action. We have reflected on the concrete results that APEC cooperation has generated throughout the year, and set out a vision of how we may build upon these achievements in the years ahead. As the year draws to a close, we note with satisfaction that we have met and surpassed all the tasks we set for ourselves at our last meeting in Subic.

3. APEC -- Addressing shared challenges: We have had a thorough discussion of recent financial developments in the region. Our economies and the international community as a whole have a strong interest in seeing a quick and enduring restoration of financial stability and healthy and sustainable growth. These events reflect new challenges in the international financial system that require new responses. The global dimensions of these problems suggest the need for a global response, with regional initiatives to complement and support these efforts. We are resolved to work together to address these shared challenges.

There is no doubt that the fundamentals for long-term growth and prospects for the region are exceptionally strong. We remain convinced that open markets bring significant benefits and we will continue to pursue trade and investment liberalization that fosters further growth. Prudent and transparent policies, particularly sound macroeconomic and structural policies, human resource development strategies, and effective financial sector regulation are key to restoring financial stability and realizing this growth potential.